secwatch.observer — SEC 8-K summary
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Issuer:     SOLENO THERAPEUTICS INC (SLNO)
CIK:        0001484565
Form:       8-K
Filed at:   2024-12-17T23:59:59+00:00
Accession:  0001193125-24-280509
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Soleno Therapeutics secures up to $200M debt financing from Oxford Finance; initial $50M drawn
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- Initial $50 million draw at closing; up to $100 million in milestone tranches tied to FDA approval of DCCR for PWS.
- Pro-forma cash, equivalents and marketable securities of $334.7 million as of September 30, 2024 including the draw.
- Loan terms: 48-month interest-only period, 60-month maturity (extendable 12 months), floating rate of 1-month SOFR + 5.50%.
- Proceeds to support commercial launch activities for DCCR (diazoxide choline) extended-release tablets for Prader-Willi syndrome.
- Covenants include minimum cash (starting June 30, 2025) and revenue triggers; loan secured by substantially all assets including IP.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1484565/000119312524280509/0001193125-24-280509-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1484565/000119312524280509/d903020d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-280509

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer